For women in business, a few tips for securing a small business loan

By Mary JohnsonJanuary 19, 2014 at 11:12 AM

Need money for your small business? Check out these tips for female entrepreneurs.

I stumbled across an article online today that brought to my attention a troubling possibility: that men and women are treated differently when it comes to applying for — and getting — small business loans.

A recent report from the California Reinvestment Coalitionfound that small business loans to female entrepreneurs in the state dropped 70 percent between 2007 and 2013. There could be a variety of reasons behind that dramatic shift, and I have no clue what the numbers are like for New Jersey. But it is still astonishing.

In response, Business News Daily posted a great article with a few tips women should keep in mind when seeking out loans.

Some are good for any entrepreneur to keep in mind, such as building relationships within your business community and getting your financial information organized.

But others are more targeted, such as seeking out women-specific lending programs.

On its website, the New Jersey Economic Development Authority proclaims a soft spot for women-owned business when it comes to financing, so they would be a good place to start.